Surgical Imaging Market Top Companies Analysis To growing at CAGR of 4.3% by 2026
Pune, Maharashtra, India, February 16 2021 (Wiredrelease) Allied Analytics –:Surgical imaging systems are intra-operative imaging systems that are based on X-ray technology and can be used flexibly in various operating rooms during different surgeries such as orthopedic surgery, traumatology, vascular surgery, neurosurgery, and cardiology for intra-operative imaging. The device provides high-resolution X-ray images in real time, allowing the surgeon to monitor progress at any point during the surgery.
The global surgical imaging market was valued at $1,063 million in 2018, and is expected to reach $1,496 million by 2026, growing at a CAGR of 4.3% from 2019 to 2026.
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1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The surgical imaging market is expected to experience significant growth during the forecast period owing to rise in demand for minimally invasive surgical procedures across geographies with increase in popularity of flat panel detector (FPD). Increase in number of hybrid operating rooms further boost the surgical imaging market growth during the forecast period. Furthermore, increase in demand for integrated imaging systems and technological advancement in surgical imaging systems such as launch of O-arms n G-arms further contribute toward the market growth. However, higher cost of surgical imaging systems can impede the market growth. Some other factors such as better clinical outcomes, cost effectiveness, and greater convenience, further boost the market growth. However, higher cost associated with the surgical imaging system hamper the market growth.
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Based on technology, the market is categorized as image intensifier c-arms and flat panel detector (FPD). At present, the at panel detector c-arms segment is the major revenue contributor and is estimated to grow significantly during the forecast period. Some key factors such as rise in demand for flat panel detector c-arms, and technologically advancement in medical devices are majorly driving the market growth. Furthermore, advantages offered by flat panel detector c-arms over the image intensifier c-arm such as higher resolution, clarity, contrast, and high efficiency further supports the market growth.
Based on modality type, the global surgical imaging market is categorized as mobile c-arms, mini c-arms, and others. At present, the mobile c-arms segment dominates the global market, and is anticipated to continue this trend during the forecast period owing to rise in adoption of mobile c-arms within various operating rooms, technological advancement in mobile c-arms, wide availability of mobile c-arms, and growth in number of hybrid operating rooms along with rise in usage of mobile c-arms are majorly driving the market growth of this segment. However, the demand for O-arms and G-arms is expected to increase during the forecast period, which makes it the fastest growing segment, due to increase in number of orthopedic surgery, growth in demand for advanced medical imaging systems, and increase awareness of O-arms and G-arms.
Based on application, the global surgical imaging market is segmented into neurosurgery, orthopedic & trauma surgery, cardiovascular, general surgery, and other surgeries. At present, the orthopedic & trauma surgery segment is the major revenue contributor, and is estimated to remain dominant during the forecast period, due to rise in adoption of intraoperative surgical imaging during orthopedic surgery, wide availability of surgical imaging systems for orthopedic surgery and rise in adoption of c-arm during orthopedic implantation. Neurosurgery segment will show fastest market growth over the forecast period due to growth in adoption of c-arm during neurosurgeries, rise in number of neurosurgical hybrid operating rooms, and increase in number of target population are majorly driving the market growth of this segment.
North America accounted for approximately one-half of the global surgical imaging market share in 2018 and is expected to remain dominant throughout the forecast period. This was attributed to the rise in higher adoption of surgical imaging system, well developed healthcare infrastructure, increase in number of minimally invasive surgeries, wide availability of advanced surgical imaging system, and supportive reimbursement policies in the healthcare system. While, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to, rise in number of minimally invasive surgeries with the increase in adoption of surgical imaging systems.
The Major Key Players Are:
• GE Healthcare (A Subsidiary of General Electric Company)
• GENORAY Co. Ltd.
• Hologic, Inc.
• Koninklijke Philips N.V.
• Medtronic plc
• Shimadzu Corp.
• Siemens Healthineers AG
• Toshiba Medical Systems Corporation
• Whale Imaging Inc.
• Ziehm Imaging GmbH.
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Key Findings of the Surgical Imaging Market:
• Based on modality type, the mobile c-arms segment held more than three fifth share in the global market in 2018.
• Based on technology type, the flat panel detector (FPD) segment exhibits fastest growth and is expected to grow at a CAGR of 4.6% from 2019 to 2026.
• Based on application, the orthopedic & trauma surgery segment held largest market share in 2018, and is expected to remain dominant throughout the forecast period.
• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.3% during the forecast period.
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